Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $32,542.85 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 9,167 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $3.55, for a total transaction of $32,542.85. Following the sale, the chief executive officer directly owned 119,422 shares of the company’s stock, valued at approximately $423,948.10. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

NASDAQ:CVKD opened at $3.05 on Friday. The business’s 50-day moving average is $4.72 and its two-hundred day moving average is $6.22. Cadrenal Therapeutics, Inc. has a 12 month low of $2.55 and a 12 month high of $14.64. The firm has a market capitalization of $8.75 million, a PE ratio of -0.54 and a beta of 1.59.

Cadrenal Therapeutics (NASDAQ:CVKD) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) EPS for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.47. Equities analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current year.

Institutional Trading of Cadrenal Therapeutics

Large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Cadrenal Therapeutics by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after acquiring an additional 1,818 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Cadrenal Therapeutics during the 3rd quarter valued at approximately $103,000. DRW Securities LLC acquired a new stake in Cadrenal Therapeutics during the 4th quarter valued at approximately $171,000. Finally, Citadel Advisors LLC purchased a new stake in Cadrenal Therapeutics during the 3rd quarter worth approximately $274,000. 7.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HC Wainwright reduced their price target on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen raised shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cadrenal Therapeutics currently has an average rating of “Hold” and an average target price of $13.00.

About Cadrenal Therapeutics

Cadrenal Therapeutics, Inc operates as a clinical development biopharmaceutical company. The company focuses on developing Tecarfarin, a novel oral and reversible anticoagulant to prevent heart attacks, strokes, and deaths due to blood clots in patients with rare cardiovascular conditions requiring chronic anticoagulation, such as patients with left ventricular assist devices, end-stage kidney disease, atrial fibrillation, and thrombotic anti-phospholipid syndrome. Cadrenal Therapeutics, Inc was incorporated in 2022 and is headquartered in Ponte Vedra, Florida.